SHANGHAI, Oct. 12, 2021 /PRNewswire/ -- OneSmart
International Education Group Limited ("OneSmart" or the "Company")
(NYSE: ONE) today announced the approval by the board of directors
of the Company of the suspension of all of the Company's education
programs and learning centers in China, primarily due to challenges posed by
recent changes in the relevant policy and regulatory landscape in
China's private educational
service industry and the resulting operational difficulties
experienced by the Company. The Company also announced that
its independent directors Liang (Mason)
Xu and Yan Gong had resigned
from the board recently.
The Company intends to appoint two new independent directors in
due course.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. OneSmart may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about
OneSmart's beliefs and expectations, are forward-looking statements
that involve factors, risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: OneSmart's goals and strategies; its
future business development, financial condition and results of
operations; its ability to continue to penetrate premium K-12
after-school education services market; diversify and enrich our
education offerings; enhance the development and management of our
teacher team and teaching materials; competition in our industry in
China; its ability to maintain and
expand online education presence; relevant government policies and
regulations relating to the corporate structure, business and
industry; and its ability to protect our students' information and
adequately address privacy concerns. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is current as of the
date of the press release, and OneSmart does not undertake any
obligation to update such information, except as required under
applicable law.
About OneSmart
Founded in 2008 and headquartered in Shanghai, OneSmart International Education
Group Limited is a leading premium K-12 education company in
China. Our vision is to be the
most trusted and heartful high-tech education company and our
mission is POWER LEARNING changes the future with technology
advancement. Our company culture is centered on the core values of
customer focus, excellence, integrity, and technology and
innovation.
For more information, please contact:
OneSmart
Ms. Ida Yu
+86-21-2250-5891
E-mail: ir@onesmart.org
ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: onesmart@icaasia.com
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SOURCE OneSmart
